Delhivery posted its first-ever quarterly profit since listing on Friday, helped by healthy demand for online shopping during the festive season.
Consolidated profit for the three months ended 31 December was Rs 11.71 crore compared with a loss of Rs 196 crore a year earlier, the company said in an exchange filing.
“We are satisfied that network quality remained robust even through the peak season,” said Sahil Barua, MD and CEO of the Gurugram-based company.
Analysts had said the company, which delivers orders for Amazon and Walmart-owned Flipkart, would achieve profit after tax break-even by the second half of fiscal year 2025.
Revenue from the company’s express parcel services, which contributes more than half to the total, climbed 21 per cent year-on-year.
The company, which also operates the Part Truckload and Truckload businesses, saw its total income rise 21 per cent to Rs 2,325 crore.
Total expenses were up 7.7 per cent with freight, handling and servicing costs jumping 11.5 per cent.
Rival Blue Dart Express reported a marginal rise in quarterly profit last week, driven by a recovery in demand during the festive season.
Delhivery also approved a scheme of amalgamation for the merger of its units Spoton Logistics and Spoton Supply Chain Solutions into and with the company.
Shares of Delhivery closed 0.9 per cent up ahead of the results.
